Adore Beauty founder Kate Morris co-creates purpose-led private equity firm
Kate Morris has co-founded a new private equity firm in an effort to knock down the walls she faced as a female founder raising capital for Adore Beauty.
The new venture, Glow Capital Partners, aims to help purpose-led founders make a positive impact through business, according to Morris.
“My experience as a woman founder trying to raise capital was one of walking into rooms full of men in suits,” said Morris.
“I’d built a successful and fast-growing business, but was ignored or dismissed by so many who didn’t understand, or did not want to take the time to understand the beauty market.
“I am convinced that the only way to change [the funding experience] for the women who come after me is to be part of building a better alternative.”
Morris’ partner in the new endeavor is Justin Ryan, chairperson of Adore Beauty.
The new firm will invest in later-stage growth companies, with investments between $20 and $50 million, which have a purpose-driven values.
“We believe diversity (in all it’s forms) creates more valuable companies, and so we’re looking for market leading and purpose driven brands that value culture and have a strong connection to their employees and customers,” the business’ website reads.
“Glow is the right choice for founders who are building their businesses in a responsible, ethical, and sustainable way.”